Altus strikes third deal from second fund with Gulfco purchase


US-focused buyout house Altus Capital Partners has made its third purchase from its sophomore private equity fund by picking up Gulf Coast Machine & Supply Company.

Gulfco produces specialist metal forging services for the energy and industrial markets, including underwater facilities, offshore oil and gas rigs, mining and power generation.

Altus, which targets mid-market US investments, is currently investing from its $200m Altus II buyout fund raised in 2011.

It previously collected $80m of commitments for its debut private equity vehicle in 2004.

Earlier this year the firm named former CVC executive Dale Cheney as a principal responsible for sourcing and closing new investments and working with Altus’ three partners in managing its existing portfolio.

Altus also relocated its Connecticut office to Wilton Woods Corporate Campus in Wilton, Connecticut, where Cheney will be based.

The firm continues to maintain an office in Lincolnshire, Illinois.

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